Nigeria Experiences Spike in Bitcoin Adoption. Nigeria has witnessed a recent spike in bitcoin adoption, with the P2P markets setting a new record for trading volume thus far during the week of the 16th of December. Nigeria comprises the most recent African nation to experience a spike in cryptocurrency adoption, with Zimbabwe’s bitcoin prices having been among the highest worldwide for a large portion of 2017. Nigerian P2P Bitcoin Markets Set Record for Trading Volume. Nigeria’s local bitcoin markets have established a record high for trading volume, with nearly 1,950,000,000 Nigerian Naira worth of BTC exchange hands so far during the week of the 16th of December. According to cryptocompare, Nigerian Naira/BTC trade comprises the 23rd largest bitcoin market by national currency as of this writing, seeing 101.45 bitcoins traded in the last 24 hours. The Naira/BTC trade accounts for approximately 0.03% of global bitcoin trading. Nigeria is reported to have experienced the second largest growth in its P2P bitcoin markets, trailing behind only China after witnessing growth of approximately 1,500% during 2017. Nigerian Bitcoin Adoption Swells Due to Fallout From 2016 ‘Dollar Crunch’ Manasseh Egedegbe, a Nigerian investment manager, recently told media of his decision to use bitcoin in 2016. After Nigeria’s central bank enforced strict capital controls designed to limit the use of U.S dollars throughout the nation. Mr. Egedegbe then turned to bitcoin, stating “I was able to use bitcoin to do just one transaction and then I got hooked.” Mr. Egedegbe states that many Nigerians have been attracted to bitcoin solely for speculative purposes. He states that some Nigerians have grown tired of “seeing the price skyrocket,” and now “want a piece of the action.” Nigerian Bitcoin Exchanges Proliferate. October saw the launch of two new Nigerian exchanges: Bitkoin Africa, cofounded by Timi Ajiboye; and Tanjalo, which was cofounded by Tim Akinbo. The exchanges appear to be establishing significant market share quickly, with Mr. Ajiboye claiming that almost half of Bitkoin Africa’s trading volume since launch took place during the first ten days of December, and Mr. Akinbo estimating that Tanjalo has facilitated close to $1 million USD worth of cryptocurrency since launch despite the company investing in “very little marketing.” Mr. Ajiboye anticipates the future for crypto to be bright in Africa, citing the continent’s lack of “advanced financial infrastructure” as a likely catalyst for widespread future adoption. Do you think Nigerian bitcoin adoption will continue to grow? Share your thoughts in the comments section below! Images courtesy of Shutterstock, Coindance. Need to calculate your bitcoin holdings? Check our tools section. Sign up for the Bitcoin . com Newsletter. 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Download the Bitcoin.com Wallet right to your device for easy and secure access to your bitcoins. Perfect for beginners, the Bitcoin.com Wallet makes using and holding bitcoins easy. No logins required. LATEST COMMENTS. Get the latest price charts, statistics and our news feed on your site. Check out our widget services . We also deliver bite-sized news to your favourite messaging app; join our Telegram channel . Best IQ Option BitCoin Trading Experience 2018 UK. What elements influence Best IQ Option BitCoin Trading Experience 2018 UK rate? While bitcoin’s volatility makes the cryptocurrency an attractive chance, it likewise makes it an especially dangerous market to guess on. Its rate could move dramatically as well as suddenly– as well as because the bitcoin market operates around the clock, this is reliant take place whenever of day. What factors impact Best IQ Option BitCoin Trading Experience 2018 UK rate? 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The fall is part a wide selloff among the globe’s online currencies condemned partially on unpleasant worries of boosted regulatory scrutiny in South Korea and somewhere else. That leaves the complete value of Best IQ Option BitCoin Trading Experience 2018 UK tracked by CoinMarketCap.com at about $520bn, down sharply from recently’s optimal over $800bn. Best IQ Option BitCoin Trading Affiliate Saudi Arabia. IQ Option BitCoin Trading Signals Defense UAE. To make sure, there are still major and also reputable questions about the viability of such unpredictable, decentralized possessions like bitcoin. Online money have been described as during a speculative bubble that is likely to finish in tears. 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Tether was coined to help promote nationwide money purchases on the blockchain, the dispersed journal technology that underpins crypto possessions, but it has become a popular investment throughout downdrafts, market participants claim. Worth keeping in mind is Tether’s family member stability as well as a slight inverse correlation with bitcoin when bitcoin falls. That indicates it has the tendency to rise slightly when bitcoin slips, suggesting that financiers are acquiring “USDT” and dumping other money. Best IQ Option BitCoin Trading Affiliate Saudi Arabia. Investments involve a high degree of risk. IQ Option BitCoin Trading Underground UK. Some buy $NEO, Ethereum. Best IQ Option BitCoin Trading Experience 2018 UK That Might Call Your Attention: Assets that have actually offered the promise of genuine energy and also functions, like smart contracts, have appreciated a fairly far better run in 2018 than bitcoin. 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You should never invest money that you cannot afford to lose.